Banks’ transaction monitoring in the area of money laundering needs to be improved The Danish Financial Supervisory Authority, together with international consulting firms, has investigated the transaction monitoring in the country’s seven largest banks. The study showed that banks spend a lot of resources on transaction monitoring, but that changes […]
From the introductory section: This is the Treasury’s seventh annual report on AML/CTF supervision. This report includes self-reported data about activity undertaken in 2017-18 across the UK’s AML/CTF regime, which AML/CTF supervisors provided to the Treasury in their annual returns. This report provides transparency about the performance of AML/CTF supervisors […]
The UK’s Office of Financial Sanctions Implementation (OFSI) issues a quarterly report on the functioning of the Terrorist Asset Freezing etc. Act 2010 (TAFA). Here is the text of the report: Annex 1 (statistical tables omitted) Written Ministerial Statement ____________________________________________________________________ Operation of the UK’s Counter-Terrorist Asset Freezing Regime: […]
Last Friday, the Office of Financial Sanctions Implementaton (OFSI), part of HM Treasury, issued its annual review of its operations from April 2017 to March of this year. Interesting stats: 2077 total targets 122 targets were added over the past year, mostly from the North Korea (96) and ISIL (Da’esh), […]
Circular to Licensed Corporations and Associated Entities Anti-Money Laundering / Counter Financing of Terrorism (AML/CFT) AML/CFT measures and controls inspection findings In inspections of licensed corporations (LCs) over the past year, the Securities and Futures Commission (SFC) detected a number of deficiencies in meeting the expected regulatory standards for AML/CFT […]
Mr. Watchlist 